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Trying to Put Puzzle Pieces Together

QuestionsCategory: QuestionsTrying to Put Puzzle Pieces Together
Shelby asked 5 years ago
Hi Pat, I thank you for all you have done and continue to do to enhance my learning. You are appreciated.
  1. I believe I'm getting it but also feel I need clarity on a few concepts (unclear puzzle pieces). In a Tweet today, you wrote, "Team, you will find the longer, clean and simple chart patterns are the most reliable and also less stressful to deal with." I'm assuming when you say chart "patterns" or "bases," we're talking about the same things. Right?  MarketSmith (MS) has a Pattern Recognition feature but you don't use it, why? Pattern Recognition can show eight patterns/bases. O'Neil talks about the most common chart patterns (p. 112-128): cup with handle, double-bottom, and flat base. A few others are mentioned as well. So when you say, "longer, clean and simple chart patterns," are these the ones you are referencing? If no, can you list the ones you are referring to? The ones that anyone can spot.
2) I have questions but am having a difficult time explaining it to you in writing. I believe having the answers will again clarify missing pieces in my understanding. Here it goes:  If for whatever reason, I miss the initial Buy Point, can you explain and show very slowly (yes, I can rewind and I do so very often but your cursor moves too fast) opportunities for Secondary Buy Points? 3) I've only been a VIP for less than a month now but I can assure you I've gone back and looked at countless questions from other members to enhance my learning. You are an outstanding teacher and I can feel the passion in your voice. Consider the following: I seem to get confused when you show us how to look at the chart of a stock during various time intervals: Weekly, Daily, Hourly, 30 and 15-minute charts. What is the common denominator that I am looking for in each to give me the conviction I need to determine whether I should buy it?  What am I look for? Consider holding the cursor a few seconds on the bar so that I can identify where you are on the screen. 4) You mentioned in a Tweet this afternoon ". . . Less is better . . . would rather know 10-15 charts REALLY WELL than 20-25 just so-so." Kindly provide me with names of those charts so that I can get to memorizing them right away. I think I've asked enough questions for now but I have others. Hope none of my questions insult you in any way - you did say to "Ask questions." Again, you are much appreciated. Shelby  (Would prefer Shelby instead of Shelly. Tried to make that change in my account but was unsuccessful. I'm requesting Owen's assistance in this area.
2 Answers
Avatar photoOwen Staff answered 5 years ago

Hi Shelby,
Here is a video from Pat covering "bases." We're going to take a little break now; he'll make another video later tonight or tomorrow.
https://youtu.be/4oumUwZ5ohI

Avatar photoOwen Staff answered 5 years ago

Hello Shelby,
Another video from Pat:
https://youtu.be/N0gXIEceybs